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Views: 138 DOM: 226 Updated: 10.15.24 Posted: 04.09.24 Status: Active

Summary

Price $6,190,000
Built/Renov 2024
Tenant Wawa (GL)
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,585
Lease Start 06-01-2024
#Units 1,050
Price/SF $1,108.33
Expiration 06-01-2044
Tenant Type Convenience/Gas
NOI $325,005
R. Term 19.6
Ownership Ground Lease
Rent/SF $0.00
Increases 10.0%/5/yrs
Pop 5Mi 25,794
Lot/AC 1.49
Options 6/5yrs/10%
AHHI 5Mi $158,483

Lease Highlights

  • Brand-new 2024 construction
  • Brand-new 19+ year ground lease with 6 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the primary term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Wawa is strategically located on W. Penn Avenue, with access to 16,800 vehicles passing by daily. The property boasts excellent visibility and multiple points of ingress/egress. The immediate trade area is surrounded by well-known national tenants, including Dunkin’, CVS, Dollar General, and more. Moreover, the site is ideally positioned down the street from Conrad Weiser Middle and High...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Wawa
  • Guarantor:Corporate
  • Company:Wawa, Inc.
  • # Units:1,050
  • Stock:Private

About Tenant

Wawa, Inc. is an American chain of convenience stores and gas stations located along the East Coast of the United States, operating in Pennsylvania, New Jersey, Delaware, Maryland, Virginia,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 3,065 9,192 25,312
2023 Total Population : 3,013 9,096 25,019
2023 Employed Civilian Pop : 1,702 4,746 12,556
2023 Total Businesses : 99 256 548
2023 Average Household Income : $ 95,458 $ 98,188 $ 107,336
2023 Total Consumer Spending : $ 103 M $ 287 M $ 886 M
2023 Median Age : 43 44 44
2023 Total Households : 1,262 3,418 9,636
2023 Pop Age 25+: Bachelor's Degree : 345 1,045 3,365
2023 Average Home Value : $ 292,436 $ 281,365 $ 315,087
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Penn Ave Annas St 2017 15,379 0.06 mi
Bernville Rd T494 2018 3,215 0.15 mi
W Penn Ave Pearl St 2017 15,379 0.17 mi
Charming Forge Road T494 2021 71 0.37 mi
North Church Street Steeple Dr 2021 1,116 0.56 mi
West Penn Avenue T931 2021 16,777 0.68 mi
N Church St Crossgate Ln 2017 1,233 0.72 mi
Bernville Road St Daniels Rd 2021 3,486 0.96 mi
Bernville Rd St Daniels Rd 2017 3,060 1.04 mi
Penn Ave T422 2016 15,717 1.07 mi

Listing Broker

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